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to reform the economy and government spending soon, the u.s. could find itself in the same terrible economic situation as many european countries do today. this is just over an hour. [applause] >> thank you john for your very kind introduction and the invitation to speak at the heritage foundation today. it's a great privilege to be here. i have always been a great admirer of heritage and the council and in many cases the friendship of many people here at heritage for a very long time i have also admired the way that heritage works across policy areas so that you really do here and integrated message. not least among which i think is the intention of the heritage foundation to the power of culture, by which i mean people believe ideas, habits and expectations in the way that these achieve some form of institutional expression. this issue of culture and how it relates to the economy is at the heart of my book, "becoming europe" because at one level becoming europe is certainly about what has happened in europe and why it is now regarded as the sick man of the global economy. my book is also a
. up next, samuel graveyard use of our elected leaders of find the courage to reform the economy and government spending soon the u.s. could find itself in the same terrible economic situation as many european countries to. this is just over an hour. [applause] >> thank you for your introduction. it's a great privilege to be here. inviting the it council, in many cases the of many people here and heritage for very long time. and also admired the way that heritage works across policy areas so that you really do here and integrated message. not least among which, i think, is the attention of the heritage foundation to the power of culture, by which i mean people of beliefs, ideas, habits, expectations, and the way that these achieve some form of institutional expression. >> on this issue of culture and how it relates to the economy, the heart of my book, becoming europe. because the -- becoming europe is certainly about what has happened to your and why it is now regarded as the sick man of the global economy. but my book is also about how some of these cultural and economic trends
's economy. at dot, we will need to cut nearly a billion dollars, which will affect dozens of our programs. over $600 million of these cuts will need to come from the federal aviation administration, the agency that controls and manages our nation's skies. as a result of these cuts, the vast majority of faa's nearly 47,000 employees will be furloughed for approximately one day per pay period until the end of the fiscal year, and in some cases it could be as many as two days. today we are sharing more details with our unions and with industry so they can start planning for serious impacts of sequester. here is what these automatic cuts are going to mean for the traveling public. obviously, as always, safety is our top priority, and we will never allow the amount of air travel we can handle safely to take off and land, which means travelers should expect delays. flights to major cities like new york, chicago, and san francisco and others could experience delays of up to 90 minutes during peak hours because we have fewer controllers on staff. delays in these major airports will ripple across
immediately afterwards. -- planned to run it immediately afterwards. this assumption was that the economy would continue to improve or would improve. i think running and losing in 2008 was liberating for him. he found that he could be happy. we kept talking. he wanted to talk about it. we had a busy 2010 client schedule. he finally said, on election day 2010, if you cannot do anything for your client, why don't we meet? ok. we can do that. my partner and i met him. we met him in boston. at his condo. that was when i got a sense that he was intending to run. >> he was serious? and he made the decision? >> yeah. >> covering the white house, he always viewed mitt romney is the face of the republican party. is that unfair? >> no. after the 2008 election, we were thinking about the future. he asked me who i thought the nominee would be in 20 20. i said, mitt romney. i knew we were heading into an economic maelstrom. i spoke earlier to a group about this opposites theory of presidential races. romney and the business background seem like the kind of person who could emerge from that. on electio
misconception that he planned to run immediately afterwards. i think it's -- his assumption was that the economy continued to improve our would improve and i think running and losing in '08 was very liberating for him. and he found that he could be very happy. we kept talking around it, you know, we had a very busy, he wanted to talk about it. we had a very busy 2010 client schedule, in a very mitt romney way he said finally, well, on election day 2010, you can do anything for your clients, why don't we meet on election day 2010? i said, okay, i can do that. so my partner and i met him in boston at his condo on election day 2010. and that was a thing when i got a sense that he was really intending to run. it was serious before but i got the sense he definitely was going to run. >> david, covering the white house, i got the sense that you guys thought you were running against mitt romney. you always sort of viewed mitt romney as the face of the republican party. is that an unfair -- >> no. in fact, the president and i after the 2008 election, we were musing about the future, and he asked me who i
now, a tremor will hit the american economy that is both unwelcome and unnecessary. it is an across-the-board cut in spending that, according to some estimates, will cost us 750,000 american jobs. as we will hear today, there are some estimates that that is too conservative. if one takes into account the ripple effects of the tremor, it may cost us many more jobs than that, but even by the most conservative estimates, 750,000 americans who worked in contract in firms, research companies, universities, hospitals, child care centers, schools, businesses small and large around the country, and who work for the government itself, will find themselves and their country at risk. this does not need to happen. led by my friend and colleague from whom we will hear in a little while about the specifics, we put forward a constructive, common-since alternative to avoid these 750,000 layoffs. the alternative, frankly, involves closing tax loopholes that the wealthiest among us can exploit and take advantage of, and stopping mindless subsidies to huge oil companies and agribusinesses. it makes se
that will spur a new american economy that is focused again on making and innovating and growing and manufacturing and exporting. the long-term security and absolutely dependent on managing these risks we have identified today. it is that important for this country. you all can help. one man who understands this better than most is tom daschle. i can say a lot of things about tom daschle. i can talk about his military career in the air force. i can talk about his service in the house of representatives and his extraordinary leadership in the senate. the only person to serve as a majority and minority leader. i have said a lot about this man in terms of what his counterparts thought of him. i prefer to talk about tom daschle the father and grandfather. i think you can tell the measure of a man or a woman by the children. tom has got three great kids. i had the pleasure of knowing all of them. his daughter is an award- winning journalist. his son nathan is a social entrepreneur. his daughter lindsay, my favorite -- he cannot say that -- works at usda. she did an extraordinary job o
, returned $140 to our economy. every dollar. today, our scientists are mapping the human brain to unlock the answers to alzheimer's. they're developing drugs to regenerate damaged organs, devising new materials to make batteries 10 times more powerful. now is not the time to gut these job-creating investments in science and innovation. >> suarez: doctor francis collins was the head of the human genome project back then. today he's the director of the national institutes of health, which would coordinate much of the brain project. and he joins me now. good to have you back. >> nice to be with you, ray. >> suarez: there's research going on in universities around the country, institution around the world in to how the brain works. why do we need government capital flowing into this area? >> because there's a new technology opportunity here that wasn't really present four or five years ago, and the opportunity now exists in the similar way to the genome project about 30 years ago to build an intrp based upon new technology involving nanotechnology, opto genetics, some things that are pretty
, then when you achieve those economies of scale, then they are strictly price competitive in the marketplace. if you can allow, ma continue to march down that technology pathway, then we think that eventually you can see a scenario where you don't need them. we hope. you know, and i think we have seen that in our technologies. each of our technology pathways have an endpoint that is below the current prices of the income the technology they are competing with. i think you'd see sort of a natural exit point right there. >> thanks. i will take one last question. >> thanks. thanks very much for the conference. i have a question for kevin. unless i missed it, one of the priorities you did not mention was a clean energy standard, and that was a priority of previous committee chairman, and wondered why that wasn't one of the priorities of senator wyden. and if the answer is, it is no chance of passing the house, or it has no chance of passing the house -- i would be interested in hearing your thoughts on that and your thoughts on why energy standard is not a viable strategy no. >> sure. i think ac
salaries. nearly three times median income of residents in the town all as the economy was tanking before their eyes. the mayor made close to $100,000 a year for a part-time job. prosecutors say that the ex-mayor knew exactly what he was doing. he and other city workers raised property taxes, hiked fees for businesses and used other shady measures to pay. the lawyer claimed the one time city leader cannot read and never graduated from grade school. a convicted killer on death row gets another peeve. reprieve. three days after the state of georgia was to execute an jen mate the supreme court is back in the mix. >>> tense moments in court as prosecutors question a woman who admits that she killed her ex-boyfriend but you says she can't remember stabbing him. oh, yeah, she remembers the shooting part but not the stabbing. the 27 stabbings. that is coming up. to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't
on the economy. i have an economist on my program shortly who says every penny up for gas takes $1.2 billion out of the economy. add that up, you have a 50, $60 billion hit to the economy this year already. martha: that's a tough picture. quickly, stuart, what about the keystone impact? >> no impact on immediate pricing, none at all. that decision is being delaid. we don't know yet whether we'll build that pipeline or not. there will be almost certainly no impact on the price of gasoline in the immediate future because of that keystone decision. martha: that will take a little while. stuart, thank you so much. we'll see you later. bill: you're right. you said we're talking about this in may. martha: yeah. bill: it is mid-february. i filled you, over four bucks a gallon in new york already this weekend. martha: hang in there. hang in there. bill: we're just getting moving here. new details on a massive hacking assault linked back to beijing directly. why the communist nation hacked u.s. companies and what they might have stolen in the process. we'll have that for you. bill: charles krauthamer say
including demographics were slow recovering economy that was just too great for any campaign can't to reverse the outcome? and if the latter, which should be crucial? >> is the one moment. one thing you would like to change if you could rebrand the campaign. [laughter] >> it's a really good question. i've had a lot of sleepless nights thinking about that. so can we just skip that? >> look, i don't think the campaign turns on one moment. you know, on one hand you can say i don't know any campaign that was two to one on television without some sort of scandal. we could've won the primary earlier, it would have greatly advantaged status. we were close to winning the primary earlier. though history will show that is very difficult to do, for candidates to do. other than not -- >> gives me the one. >> look, you've got to give the obama campaign a great deal of credit for increasing the turnout of women voters, young people, hispanic voters and even african-american voters. i didn't think would be able to surpass what obama was able to accomplish at the african-american electorate of 2
are not smart. they are not fair. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment rolls. this is not abstraction. >> sean: the cuts are not fair, they're going to hurt the economy, what the president didn't mention, the sequester, that was his idea in the first place. >> the man who literally wrote about the book about the budget battle. whose idea was the sequester and did you ever think we had he' get to this point? >> first, it was the white house. it was obama and neighbors went to the democratic leader and harry reid and said this is the solution. >> sean: there you have it the plan that the president is calling not smart, not fair, was actually his solution to quote, saving the economy. again, that's not what we heard today at the white house, what we heard was our commander campaigner in chief reverting back into election mode and bla and using pathetic scare tactics to smear the opposition. sound familiar? you've heard the fear mongering, what i'm about to play is only described as obama's mayen apocalypse, have you questioning whether o
in this town is a mind game. this is a diversion to keep you off the thought of this poor economy which generates crime. this is about crime and is trying to divert your attention away from it because they cannot create jobs. i have two quotes from people who know what they're talking about. bruce weinberg, ohio state university -- but officials can pass tougher citizen laws and take other steps to reduce crime but there are limits to how much these can do. we found that a badly premarket has a profound impact on the crime rates -- that a bad labor market has a profound impact on the crime rates. this causes more unemployment a spiral situation from which it is difficult to recover. what we need to do is create jobs, businesses. small businesses create less crime. though i walk through the valley of the shadow of death, i fear no evil because i am the meanest and fiercest person walking into the valley.[laughter] >> thank you. and a reminder of the los angeles riot.i was actually there during that time as well. you are absolutely right. that is what we saw. you are right, that most of t
hundreds of thousands of jobs and our entire economy at risk just to protect a few special interest tax loopholes that benefit only the wealthist americans and biggest corporations. that's the choice. are you willing to see a bunch of first responders lose their job because you want to protect some special interest tax loophole? are you willing to have teachers laid off, or kids not have access to head start? or deeper cuts in student loan programs? just because you want to protect a special tax interest loophole that the vast majority of americans don't benefit from. that's the choice, that is the question. and this is not an abstraction. there are people whose livelihoods are at stake, there are communities that are going to be impacted in a negative way, and i know that sometimes all this squabbling in washington seems very abstract, and in the abstract people like the idea, you know, there must be some spending we can cut, there must s out there. there absolutely is, but this isn't the right way to do it. so my door is open. i put tough cuts and reforms on the table. i'm willing to
their jobs. >> obama: these cuts are not smart, they are not fair they will hurt our economy, and add hundreds of thousands of americans to the unemployment rolls. >> bill: and the president pointed out this is not selective. this is sledge hammer. >> obama: congress allows this meat cleaver approach to take place it will jeopardize our military readiness. it will eviscerate jobs. >> bill: and the president said when congress adopted this, it was so bad right, that never, never, never would anybody ever believe that congress would go along with this. >> obama: the whole design of his arbitrary cuts was to make them so unattractive and unappealing the democrats and republicans would get together and find a good compromise of sensible cuts as well as closing took loopholes and so forth. >> bill: yes, of course that presumes that members of congress are responsible and smart. either one of those are true. the boals of the simpson boals, he and allen simpson were in town yesterday, and they were asked -- erskine was asked what about this kind of approach? will th
the sequester could really have on the economy if no deal is reached before the deadline. chief congressional correspondent mike emanuel is live in washington with this. mike, what is the practical impact the real impact that many of us would feel from se sequestration? >> the automatic cuts are half domestic, after defense. he tkpepding on your interaction with the government, if you work or do business with the government you may be affected more. today the agriculture secretary raised the impact on the food on our tables. >> the only way we can absorb a cut of this magnitude is by impacting the people who work in the food safety area of usda, and we all know that when we do that it doesn't just impact those workers, it impacts all the processing facilities and plants and proceed tucks facilities across the country. >> reporter: the suggestion being that could lead to restaurants and supermarkets struggling to stay stocked with properly inspected food, jenna. jenna: that certainly hits home. we've hoard from republicans and democrats how drastic of an impact this might be in a whole slew of
paid more and have the so-called knowledge economy are able to get more. and then this relentless -- and this is the point, we talk a lot about jobs, we don't talk enough about incomes -- this relentless downward pressure on the average worker competing across the globe, not being able to get wage increases. what's happening with unions. we're now talking about the minimum wage and so forth. and so what's also interesting, if you look at the 2011 numbers which came out, you see something -- a slightly different pattern, which is the bottom 99% still going down, down minus 1.3%. they lost another $150 on their average income. but to your point, willie, the top has actually went down a little bit in that year as well. 0.6% for the top 1%, 6.7% for the top 1%. nobody is going to take up a collection for these guys. they have $23 million of average income. but this is probably a function of the fact that the stock market did not have a great year in 2011. >> those charts, those two combined charts, that is a prescription for social dynamite. i mean, the fuse is burning. >> and the fus
leading the country in stressing graduation over enrollment. it is going to strengthen the economy of the state of ohio. [applause] >> we got to integrate business with academics. who i mean, this is a big challenge, and it's a big challenge worldwide. some countries get better than others. germany does a pretty good job at this. america's floundered on this. you see, if we can bring our business community, our job creators into k-12 and a two-year and four-year schools and help to design the curriculum and help to give people a view of what it means to work in those different entities, we're going to turn kids on for education. and it's all this business of job training, and all of you in the general assembly, you get it. i appreciate and thank you for your attention. i understand the first dose of the ohio senate are on job training. and we'll going to work on this day and night until we fully integrated. we are making great progress, we have a way to go. and it involves changing the culture of our state, changing the culture of academia and convincing businesses that working wit
shrinks the deficit faster than a growing economy that creates good jobs. we need to make america a magnet for good jobs, equipping our people with the skills required to fill the jobs. making sure their hard work leads to a decent living. those are the things we should be pushing ourselves to think about and work on every single day. that's what the american people expect. that's when i'm going to work on every single day to help deliver. so i need everybody who is watching today to understand we've got a few days, congress can do the right thing. we can avert just one more washington-manufactured problem that slows our recovery and bring down our deficits in a balanced, responsible way. that is my goal, that's what would do right by these first responders, these what would do right by america's middle class. that's what i'm going to be working on and fighting for, not just over the next few weeks but over the next few years. thanks very much, everybody. thank you guys for your service. [applause] [applause] jon: "happening now" at the white house president obama shake hands with a group
to the economy, but people start hearing, layoffs will, uh, people will see less money in their medicare payments to doctors. as these real-world costs hit, it will be interesting, and likely what drives the eventual deal will be with the political pressure lands on. host: can you walk us through the next six or seven days? as you indicated, the president traveling to norfolk, virginia, an area have the with pentagon contracts and military construction and the navy shipyards. what are you looking for? guest: the most interesting things will be the votes in the house and senate. if democrats are able to win over a number of republicans to get a compromise through, that would really upset the equation. it would be very much unexpected. that is maybe our one chance to avert the sequester. more likely, it will be a vote were democrats -- where democrats put forward a plan but fails. then you'll see a lot of finger- pointing from both sides, with republican saying, democrats could not pass of planned. the democrats will say, republicans are the ones who blocked our compromise to be in the senate. -- p
economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> we saw with his nomination something truly extraordinary, which is the government of iran formally and publicly praising the nomination of a defense secretary. i would suggest to you that to my knowledge that is unprecedented to see a foreign nation like iran publicly celebrating a nomination. >> just watching that reminded me of mccarthy. welcome back to "hardball." that's just a sample of freshman texas senator ted cruz's language this week about defense secretary nominee chuck hagel. here is what really happened at his weekly news conference. the iran foreign minister spokesman was asked about hagel's views on israel and u.s. sanctions on iran. as reuters reported, the spokesman responded, we hope there will be practical changes in american foreign policy and washington becomes respectful of the rights o
the skills they need to compete in the modern economy. he needs to, in order to reformat the republican message, have that 250i7 of message but he's got time. you for example the good thing is he has time. >> what do we read from the fact, michael and mark, as we said not one but two republican responses. the over one was rand paul, tea party. obviously this is just the tip of the iceberg but what does it is a about the republican matter right now. >> i think the republican party going through a very difficult period. just to give you sort of a quick history lesson, joe leiberman was democratic senator, nominee for vice president in 2000. in 2007 he created a great-- committed a grea great-- oppose tate act. he endorsed john mccain as president. he went to the republican convention we are criticized, the democrat eck nominee barack obama and endorsed mccain and sarah palin. and when joe campaigned in 20080 with mccain, comes back to the senate and senate democrats make him the chairman of standing committee, contrast that with chuck hagel. 84% of americans for conservative action, votin
to do with a rotten economy. older adults are staying in the work force longer any younger adults staying out of the work force longer because they cannot get into it. host: if you don't have a retirement, there is this option -- norman is joining us from maryland, 45 years old. how much have you saved so far for your retirement? caller: first, thanks for having an article on this subject. i have been waiting for this opportunity. i have $2,800 in my 401k plan. i am wanting your opinion for people my age. i was born in 1968. it seems we are at the tail end of the pension plans and profit- sharing and at the front end of all the financial crises in the country. people my age, it seems we were never able told the 10% we were told, the city to hold 10% your entire working life for your retirement. between jobs and layoffs -- and i have always been fortunate to make as much as college graduates, but between the jobs and layoffs throughout my work life and the clinton era taxes and everything -- i'm not blaming him, i thought he was a good president even though i am a republican, i jus
this is a good time for the economy. are you kidding? it is not a great sign for the economy. dell? michael dell try to take back his own company, looking to do some things behind the scenes, but no takeover battle and higher battle. heinz was more of a world deal. not seen the kind of things we're looking for. the market is grappling for things. what i wanted to kind of talk about with the audience is key members on the downside. let's talk about the key support levels. it is a key number that i like to see if we drift on no news, the market to make a stand, the number that must hold the moving average, let's just call it 13,600. if for any reason we get hurt and got out to that level, that is the market must make a stand. certainly want to see the market make a stand. once all the news went away, some form of analysts. would find a way to go up but so far has not been able to find a catalyst. and i'm a little bit nervous on the talks of sequestration. the president yesterday was talking if the white house those things are getting bad and just trying to set up the escape hatch so they cannot bl
to happen. the impact on the economy would be terrible for american families. we don't want it. we think it is bad policy. it was designed to be bad policy. that was the whole point. the sequester was written in a way that would assure that congress would never let it happen. >> by putting it off, it could work to your advantage perhaps? >> i think you're misunderstanding or maybe we're not doing a good enough job trying to convince you. we support efforts in congress to buy down the sequester but they should come back and do it tomorrow or come back next week. buy it down so the sequester does not have an immediate effect and congress can get back to work and we can get that $4 trillion in deficit reduction that analysts have called for. we've been working for that. up to $2.7 trillion in deficit reduction has been achieved thus far. our deficit is coming down but we need to do more work to make sure that process continues. that's what we want, that's what the president wants. >> i have a question about cyber crime among other things. what can we expect? >> i think if you're talking a t
in a world without rules for years to build our economy up another we are up to the top are try to hamstring them or tie them up with rules and regulations to hold china down. >> keith richburg on 34 years of reporting and insights around the world sunday at 8:00. >> if blockade is the principal naval strategy of the northern states, the principal naval strategy of the seven states is commerce raiding. one gun on a pivot between the masts, if you're going against merchant ships, one is all you need. the idea was, come along side and put a prize crew on board, a ticket to a fort where a judge could adjudicate it. sell it at auction and you have to keep all the money. because it depends entirely on the profit motive, the ship owner paid the men, the ship itself, supply of food. he expects a return on his money. the crew expected prize money. without from the ports where they could be condemned, you cannot be making a profit. therefore, confederate profit- sharing that out almost immediately. it lasted three months are slightly longer. maritime on to print yours found out they could make more m
♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> suarez: there may be hope yet for bringing the national epidemic of obesity under control. at least, the latest numbers on calories and fast food, released today, indicated possible progress. for years, health officials have warned about americans' growing girth. now, research from the centers for disease control and prevention suggests the fight against fat may be having an effect. among the findings: american children consumed fewer calories in 2010 than a decade before-- 7% less for boys and 4% less for girls. and for adults, fast food accounted for just over 11% of the calories consumed in 2010, down from nearly 13% in 2006.
with india to $35 billion. >> the sky's the limit as far as i'm concerned. it's about business, economy, trade, but also about culture, diplomacy. and the will be one of the leading nations in this century. we want to be your partners prevents why i'm here today. >> thousands of people have been protesting in an egyptian city of ports said. they're angry about a death sentences handed to 21 people for their involvement in the tragedy. now more. >> there's a growing sense of isolation here. people are demanding justice. they are also demanding that their dignity restored. the way security forces dealt with the clashes here last month's. >> they killed my brother. he has six children. >> my son and his father went out to buy lunch. there were walking by the police station. there was a shootout. bullets from above the station and in front of it and then my son fell to the ground. his father took him to the military hospital, but the head died on the spot. a governmentant fact-finding mission. >> the protesters say nothing will satisfy them. they say there's a lack of accountability in egyp
spending makes up 20% of our local economy. defense spending alone makes up almost 10% of our ecomony. >>> many of us buy a fancy sports car or jump out of a plane. how the first lady handled her mid life crisis. >>> a warning for women who can't make it through the morning without that cup of coffee. >>> the active scene off shore that has you looking for a new place to go swimming. >>> it's dry now. but you want to grab your umbrella. your soggy forecast and danella checks i-66 next with weather >>> take a look at cell phone sid yoe from hawaii. this splashing is from half a dozen tiger sharks. a marine biologist took the video on the island of oahu. he called authorities because swimmers were nearby. a boat traveled around warning people about the sharks. no one was hurt. i know they were getting out of there fast. >> tom will be here in a second with the forecast. yesterday we had the video of the like a thousand dolphins in the little school or a university if it's that many. >> a university. ha ha. i think the difference is the sharks will bite you. >> dolphins have teeth. >> i
sequestration will hit the d.c. area as it's still recovering from the recreation. >> our economy used to be the fastest growing in the nation as a metropolitan area and we're in the bottom third. >> reporter: the battle lines remain the same while democrats blame republicans for not going along with their plan to raise higher tax revenues. >> and since the new congress began, they have not put forward one proposal to oppose, to prevent the across-the-board sequester. >> and i try to put myself in the place of the regular citizens who sits here and watchesy this and they have to be scratching their heads. >> reporter: republicans insist that deeper entealment cuts are needed and not more tax money. >> it's time to get serious about reducing washington's out- of-control spending. >> reporter: randy forbes said the white house is to blame for the sequestration crisis because he said that that created the mechanism -- mechanism in the first place. >> he signed it into law. for over a year from august 2011 through the end of the last year, the president did nothing to stop it. >> reporter
to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ ♪ >> live and in hd, this is the abc 7 news at 11:00, on your side. >> breaking tonight, a shocking development in a deadly fire that killed a four-year-old. police say that they will be fire a homicide and made an arrest. this comes days after the smoke and flames killed four-year-old samauri jenkins on 33rd street and southeast. live outside of the headquarters tonight with breaking developments. >> they are not saying what evidence led them to the arrest of the 36-year-old, but we know that he lived in the home specifically in the location where firefighters say the fire started. >> multiple sources telling abc seven the men charged with second-degree murder lived in the southeast home that burned. 36-year-old jerome lewis was the landlord, lived in the basement, and police say he is a distant relative of little samauri jenkins. they say early sunday morning three family members escaped and four others had to
to come for the nation's economy, walmart says it expects business to slow down in the coming months. the world's largest retailer reported higher than expected fourth quarter profits on thursday, but walmart said sales are weakening as customers battle rising gasoline prices delayed income tax refunds, and higher payroll taxes. >>> the gasoline prices are at their highest level for this time of year. aaa says the average price for a gone of regular is $3.78 nation wide. that's up 47 cents in the past month. aaa says the higher prices are due to seasonal maintenance at refineries. analysts expect gas prices to rise further in the coming weeks. and the outlook is no better at the supermarket. the u.s. department of agriculture says food prices will rise by as much as 3.5% this year. that's nearly double the rate of inflation. the steep rise is blamed on the severe drought that's gripping farmers and cattle ranchers in the nation's midsection. anne-marie? >> ines ferre here in new york. thank you, ines. >>> when we return, driving in the fast lane. danica patrick
of what the chinese seem to be doing to under aspects of the u.s. economy for competitive reasons as opposed to affirmatively trying to harm u.s. corporations, take down their operations which one might interpret as an act of economic warfare? >> no one as yet seen a case where they really try to bring things down. there have been some worries in cases including one we wrote about called televent that controls the pipelines in the chinese and the ones that run in mexico. they may have gotten about how those valves run. the p.l.a. are an army but they have huge interests in these industries in china. so it's not completely above them to want to steal the industrial secrets for the companies that keep the p.l.a. budget alive. >> so it's another way of pursuing american intellectual property in >> by and large, that's it. when you heard attorney general holder an others announce a program this week, it was to avoid, you know, intellectual property theft. they almost never use the word cyber in the course of that. there are all kinds of way to steal intellectual property. >> you menti
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